7 Must Have Insurance Policies For Your Business in Calgary

Today, small businesses are expected to operate with the same ease and efficiency as large corporations. In order to stay competitive, you’ll need a slew of small business insurance policies you can trust to protect it from risks both big and small. Luckily, there are a number of affordable options available for insuring your business. Even better? Most of them don’t require much time or money on your end — just a little bit of research and an understanding of the type of coverage you need. Read on for our top 7 most essential small business insurance policies that will keep your company running smoothly no matter what happens.

Small Business Owners Insurance

It’s easy to forget how important an insurance policy covering the owner of your business can be. Of course, you yourself are protected by Workers Compensation and general liability insurance — but if something happens that causes serious injury to someone else, that won’t help you out. A policy specifically covering the owner of your company will assist in covering damages and injuries incurred from third party claims. With this policy, you can protect yourself from lawsuits brought against your business. It will also cover you and your employees in the event of workplace injuries or illnesses. It’s also crucial to note that a policy covering the owner of your business will add a layer of protection for the assets of your company. If a customer or supplier causes damage or theft during a transaction, you’ll have coverage to help you recoup the costs and make things right.

General Business Insurance

If you’re not sure what you need in an insurance policy, it’s probably a good idea to start with general business insurance in Calgary. While you might be able to get coverage for specific risks, it’s much easier to get a comprehensive policy that covers many different risks. That way, even if something big does happen, your business will be adequately covered. With general business insurance, you can protect your assets, customers, and employees. It can also help recover damages in the event of a claim. That way, you can anticipate the potential of any third-party claims, and recover accordingly. And while most small business owners are too busy to cover all of the nitty-gritty details of insurance, a general policy is a great place to start.

Contracts & Inventory Coverage

Defending your contracts and inventory against damage or loss is an essential part of any business insurance policy. You can’t be sure what third parties might do if they discover that you’ve misrepresented the contents of a shipment or if the goods you’ve contracted for show up damaged. Luckily, contracts and inventory coverage will help protect you against claims for either. It will reimburse you for damages incurred to your assets and reimburse you for the costs of replacing damaged goods. It can also help you avoid the loss of profit if a contract is terminated early.

Cyber Liability

You’re in the business of connecting with your customers and delivering goods to them, so it makes sense that you’d also want coverage for data and communications. In an age when companies are expected to be open and accessible, policies guaranteeing uninterrupted service are no longer optional — they’re a must. Fortunately, cyber liability coverage will protect your business against the potential of interruptions in service. It will also help recover the costs associated with any service interruption if it occurs. And while this coverage is particularly useful for e-commerce or businesses that rely heavily on phone or internet communication, it’s a good choice for any business.

Employee Benefits Protection

While it’s important to protect your business as a whole, it’s even more critical to protect the people who make it happen — employees. When you have an employee benefits protection policy in place, you can be sure that your employees will be covered if they incur any sort of medical expense. It’s also a good idea to have medical insurance coverage for your employees to protect them against the possibility of injury. Employee benefits protection policies come in two forms — medical expense coverage, which will reimburse you for any medical expenses incurred by your employees, and accidental death and dismemberment coverage, which will help pay for the cost of your employee’s funeral. Both of these policies are essential for businesses that employ employees.

Reputation Management Coverage

In today’s world, your reputation is everything. If your business has a bad reputation (based on the kind of customers you serve, the quality of your goods and services, the cleanliness of your premises, the ethical standards of your employees, the frequency of your complaints to authorities, etc.), it could result in a hefty fine, a lawsuit, or even criminal charges. With reputation management coverage, your business will be protected against any potential reputational damage. It will also help you cover the costs associated with repairing any damage. It’s important to remember that a reputation management policy isn’t designed to cover things like faults in products or services (there are insurance policies for that). It’s more likely to be used to cover disputes with customers related to the way you handle complaints.

Safety Protection

In addition to a general liability policy, it’s essential for your business to have a safety policy in place. Simply put, safety is the protection of your employees, customers, and assets from harm. It’s important to note that not all policies are created equal. A policy that covers only a certain amount of money and that offers no real protection is not worth the paper it’s written on. Instead, choose a policy that offers a minimum amount of coverage and has a low deductible. You should also compare the different policies offered by different companies to make sure you’re getting the best value for money. Once you’ve found a policy that you think is right for your business, make sure you follow the guidelines to make sure that your policy stays strong.


It’s important to remember that your business is at risk of many different kinds of disasters. Thankfully, there are a number of insurance policies available to help protect your business from these potential threats. With a little time and research, you can choose the best policy for your company, contact us at Core Insurance Group to ensure we cover every aspect of your company.


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